Sanica Isi Sanayi A.S. Stock Forecast
Sanica Isi Sanayi A.S. stock price ended at TRY 7.27 on Thursday, after gaining 0.97%.
(Updated on Jun 20, 2024)
The Sanica Isi Sanayi A.S. stock price gained 0.97% on the last trading day (Thursday, 20th Jun 2024), rising from TRY 7.20 to TRY 7.27. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.46% from a day low at TRY 6.96 to a day high of TRY 7.34. The price has fallen in 6 of the last 10 days and is down by -0.55% for this period. Volume fell on the last day by -2 million shares and in total, 14 million shares were bought and sold for approximately TRY 103.79 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 4.48 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -61.83% during the next 3 months and, with a 90% probability hold a price between TRY 1.71 and TRY 8.98 at the end of this 3-month period.
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SNICA.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 12.02%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sanica Isi Sanayi A.S. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at TRY 19.39. On a fall, the stock will find some support from the short-term average at TRY 6.81. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Sanica Isi Sanayi A.S. stock
Sanica Isi Sanayi A.S. finds support from accumulated volume at TRY 7.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved TRY 0.380 between high and low, or 5.46%. For the last week, the stock has had daily average volatility of 5.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SNICA.IS) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Sanica Isi Sanayi A.S. to open at TRY 7.19, and during the day (based on 14 day Average True Range), to move between TRY 6.06 and TRY 8.48, which gives a possible trading interval of +/-TRY 1.21 (+/-16.70%) up or down from last closing price. If Sanica Isi Sanayi A.S. takes out the full calculated possible swing range there will be an estimated 33.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at TRY 7.20 (0.96%) than the resistance at TRY 7.92 (8.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sanica Isi Sanayi A.S. stock A Buy?
Sanica Isi Sanayi A.S. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.446 Sell Candidate Unchanged
Predicted Opening Price for Sanica Isi Sanayi A.S. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| TRY 7.19 ( 1.10%) | TRY 7.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNICA.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.57 | 4.13% |
| R2 | 7.42 | 2.13% |
| R1 | 7.34 | 0.90% |
| Price | 7.27 | |
| S1 | 7.04 | -3.10% |
| S2 | 6.96 | -4.33% |
| S3 | 6.81 | -6.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.29 | 14.03% |
| R2 | 8.00 | 10.04% |
| R1 | 7.92 | 8.94% |
| Price | 7.27 | |
| S1 | 7.20 | -0.96% |
| S2 | 6.88 | -5.36% |
| S3 | 6.49 | -10.73% |
FAQ
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